From 2 August 2021, Edrington will take full ownership of Edrington-Beam Suntory UK, and Beam Suntory will assume full ownership of Maxxium in Spain, subject to regulatory approval.
Both companies will continue to distribute their current portfolios ensuring no change in the presence of Beam Suntory and Edrington brands in either market.
“Spain is a priority investment market for Edrington, and we are particularly pleased that this agreement will enable us to continue to work closely with the excellent Maxxium Spain team in Madrid to accelerate the growth of The Macallan in the key cities of Madrid and Barcelona and particularly Brugal rum in its No 1 international market,” said Huw Pennell, Edrington’s regional managing director for Europe.
Upon completion of the equity swap, Edrington-Beam Suntory UK will become known as Edrington UK, headed up by current managing director Mark Riley.
The 10% equity stake that Suntory Holdings owns in Edrington will remain unaffected by this agreement.
For Beam Suntory, the deal represents the company’s first full owned route-to-market in Spain following the establishment of Beam Suntory-owned RTMs in China, Korea and South Africa over the last few years.
Spain is considered a strategic hub for the American premium-spirits multinational, with existing corporate offices in Madrid and Jerez.
“We’re looking forward to establishing our first Route to Market in Spain, and we will be proud to employ more than 600 people across the country as a combined business,” said Pryce Greenow, president international and global sales excellence officer at Beam Suntory.
“The UK remains vitally important for Beam Suntory, and we look forward to continuing our close relationship with Edrington-Beam Suntory UK as our trusted distributor partner. The UK will always be a priority growth market for us, and London will continue to play a critical role as a global centre of luxury for our premium portfolio, including Maker’s Mark and Sipsmith.”
